Tuesday 21 October 2014
 
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Opec

Saudi August oil exports lowest in three years

Saudi crude exports fell in August for the fourth month in a row to their lowest levels in three years, official data showed on Monday, as the top oil exporter fights for market share amid weak demand and ample supplies from rival producers.

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In shift, Opec price hawk Iran says can live with lower oil

Iran, in a change of tack, is saying it can live with lower oil prices, moving closer to the views of Saudi Arabia and other Gulf Opec members and reducing the likelihood of any collective cut in Opec output to support prices. &nb

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Opec unlikely to hold emergency meeting on oil drop

The Organization of the Petroleum Exporting Countries (Opec) is unlikely to call an emergency meeting as proposed by Venezuela, two Opec sources said, a sign the exporter group is in no rush to discuss a collective response to the shar

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Oil falls below $88 after IEA cuts demand forecasts

Brent crude fell below $88 a barrel on Tuesday, returning to a nearly four-year low hit the day before, after the world's energy watchdog cut its estimates for oil demand this year and next. The global oil benchmark has droppe

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Saudis avoid 1980s mistakes to halt oil price slide

Still haunted by its failed attempt to prevent a steep drop in oil prices by slashing production by almost three quarters in the 1980s, the world's top oil exporter Saudi Arabia is determined not to make the same mistake again.

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Oil falls more than $1 on Kuwait, Saudi reports

Global oil prices lost more than a dollar on Monday in early Asian trades, as Kuwait said Opec is unlikely to cut ouptut to support prices and Saudi Arabia privately told oil markets that it is ready to accept oil prices perhaps down to $80 a ba

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Venezuela calls for urgent Opec meeting, action on oil prices

Venezuela wants Opec to hold an emergency meeting to arrest the slide in oil prices, Foreign Minister Rafael Ramirez said, the first member of the group to formally call for action ahead of next month's gathering.  

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Saudi tells Opec it raised output despite oil drop

Top oil exporter Saudi Arabia told the Opec it raised its oil production in September by 100,000 barrels per day, adding to signs it has yet to respond to a drop in prices well below $100 a barrel by trimming output. In a monthly

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Oil prices ‘normal’, to be discussed at Opec meeting: Ecuador

Ecuador's Oil Minister Pedro Merizalde told Reuters that current oil prices are normal given an increase in US production, and that they will be discussed at the Organization of the Petroleum Exporting Countries (Opec) meeting in

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Oil falls to near $92 on strong dollar, surplus

Brent crude futures fell to near $92 a barrel on Monday, extending this year's rout that saw the international benchmark hit a 27-month low in the previous session due to a strong US dollar and ample oil supply. Brent lost nea

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